Perpetuity Capital Raises Undisclosed Amount From UC Inclusive Credit The fund raised will help the company grow its book and expand to different geographies
By Teena Jose
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Perpetuity Capital, a Kolkata-based fintech, raised an undisclosed amount in debt funding led by UC Inclusive Credit. By leveraging its platform, Perpetuity aims to make financing simple and accessible by overcoming product risks and offering bespoke lending solutions. The fund raised will help the company grow its book and expand to different geographies. Also, it will help the startup expand its loan book in the L5 segment by financing single owner drivers and small fleet operators in NCR, Karnataka, Bihar and West Bengal, where it plans to deploy the funds
"We are seeing an uptick in EV adoption, especially in the commercial vehicle segment. In an inflationary environment where every price increase is pinching companies and small fleet owners, Electric Vehicles make sense. The cost of running and maintaining an EV is substantially lower than it's ICE counterparts. On a cost basis, the commercial EV segment presents the best opportunity going forward for asset owners," said Karamveer Dhillon, CEO of Perpetuity Capital.
Founded in 2017 by Karmveer S. Dhillon and Karan Dhillon, Perpetuity Capital enables asset ownership for single owner operators, drivers, and underserved entrepreneurs in the auto sector to ensure financial inclusion.
"We are excited to partner with Perpetuity Capital for financing clean mobility. The promoters and senior management team at Perpetuity have a deep understanding of the logistics/supply chain sector in the eastern states of India. We believe a lasting environmental impact can only be made when we arm the smallest stakeholders in the supply chain with access to affordable and responsible credit," said Abhijit Ray, Managing Director, UC Inclusive Capital
